Analysts Set Figure Technology Solutions, Inc. (NASDAQ:FIGR) PT at $54.38

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $53.75.

A number of brokerages have recently commented on FIGR. Weiss Ratings cut shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods upgraded shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Needham & Company LLC decreased their price objective on shares of Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, The Goldman Sachs Group cut their price target on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, March 2nd.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $32.89 on Monday. The stock has a market cap of $5.84 billion and a price-to-earnings ratio of 82.23. The company’s 50-day moving average is $38.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 2.20. Figure Technology Solutions has a fifty-two week low of $25.01 and a fifty-two week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last issued its earnings results on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The firm had revenue of $157.63 million during the quarter, compared to analysts’ expectations of $158.00 million. The company’s quarterly revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions announced that its board has approved a share buyback plan on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Figure Technology Solutions

In other news, insider David Todd Stevens sold 49,708 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $32.02, for a total transaction of $1,591,650.16. Following the transaction, the insider owned 436,089 shares in the company, valued at $13,963,569.78. This trade represents a 10.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sachin Chand Jaitly sold 216,713 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total transaction of $7,290,225.32. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 292,478 shares of company stock valued at $9,715,699.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FIGR. Voya Investment Management LLC purchased a new stake in Figure Technology Solutions during the 3rd quarter worth approximately $721,000. Exchange Traded Concepts LLC acquired a new stake in shares of Figure Technology Solutions in the third quarter worth approximately $5,963,000. Blue Trust Inc. acquired a new position in Figure Technology Solutions in the 3rd quarter valued at $64,000. Hennessy Advisors Inc. acquired a new position in Figure Technology Solutions in the 3rd quarter valued at $255,000. Finally, CWA Asset Management Group LLC acquired a new stake in Figure Technology Solutions during the 3rd quarter worth $1,412,000.

About Figure Technology Solutions

Figure is building the future of capital markets using blockchain-based technology. Figure’s proprietary technology powers next-generation lending, trading and investing activities in areas such as consumer credit and digital assets. Our application of the blockchain ledger allows us to better serve our end-customers, improve speed and efficiency, and enhance standardization and liquidity. Using our technology, we continue to develop dynamic, vertically-integrated marketplaces across the approximately $2 trillion consumer credit market and the rapidly growing approximately $4 trillion cryptocurrency and digital asset market.